I get the depreciation aspects. 

Also, I’m curious—have you found that lenders’ confidence grows after seeing how smoothly things run, or are there certain aspects of the deal where they tend to focus their due diligence?

Achieving a 4098% IRR in just 58 days is nothing short of remarkable.I’m curious about a few aspects of this deal:Entitlement Process: Can you elaborate on the land entitlement process?

And the fact that I've known this wholesaler for quite sometime outside of the business aspect still has me believe there were no fraudulent or misleading practices done here.

Only asking since most newcomers to wholesaling get caught up in the aspect of having "all their ducks in a row" that they forget to focus on what actually matters: deals. 

It is missing one aspect of property management - maintenance requests/tracking.I'd say Stessa is great for managing one to 20 units.  

I would not add much, a simple bedroom, bathroom, kitchen, and hvac.Another aspect of this deal is that the building is listed as a historic building and thus could qualify for some grants. 

If you have a good screening process that checks all aspects of their background, you'll weed them out through other means.

You've got to bring your A-game in all aspects.

Positions like these can provide valuable exposure to different aspects of real estate while helping you network with other professionals.